The business behind the dividend
| Measure | WINT | Median | Formula |
|---|---|---|---|
| Return on equity | -17.9% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $-1.72m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $-15.41m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | — | — | Operating income ÷ revenue |
| Net margin | — | — | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 0.45x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | 48.8% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Debt to equity, Long-term debt to working capital, Net margin, Operating margin, Return on capital employed — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -17.9% | -598.4% | -391.6% | -161.5% | -46.8% | -36.7% | -30.1% | — | — | -667.4% | -46.8% |
| Return on capital employed | — | — | — | — | — | — | — | — | — | -119.7% | -119.7% |
| Operating margin | — | — | — | — | — | — | -905.8% | — | — | — | -905.8% |
| Debt to equity | — | — | — | — | — | — | — | — | — | 3.02x | 3.02x |
| Current ratio | 0.45x | 1.35x | 3.00x | 4.77x | 2.96x | 3.05x | 1.24x | 0.19x | 0.54x | 3.69x | 1.35x |